Tandem Group – 135p

12 April 2017 – final results

The group has issued its results for the year to 31 December 2016 and these have revealed that revenues in the year rose by 12% to £38.4m (2015: £34.4m), whilst adjusted pre-tax profits fell to £1.03m (2015: £1.21m).  Earnings per share fell to 16.0p (2015: 21.3p) and the total dividend was raised to 3.90p (2015: £3.75p).  Net debt at the year end had fallen to £4.20m (2015: £5.65m).  The fall in profit was due to lower margins due to the fall in sterling and increased import duty on some products.  The group hopes to improve margins going forward following some price increases in its products whilst the introduction of new toys and cycles should help in the current year.  The shares continue to look CHEAP.

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